"Simply stated"...

According to the National Association of Realtors, home sales rose 3.9 percent last month to an annual rate of 6.7 million from a revised 6.4 million pace in January. It was the biggest percentage increase since March 2004.

Money Magazine has put together its annual survey of the best places to live.  

Money Magazine's Best Places to Live

Through my affiliation with the "Leading Real Estate Companies of the World" I can help you move to any of these locations. 

As Springtime approaches, I'm reminded why East Brunswick, NJ is such a great place to live.  Pretty soon, the top rated East Brunswick School System will be shutting its doors for the year, and the East Brunswick Soccer League will be back in action for another season on the beautiful, new turf fields of Heavenly Farms.  The East Brunswick Baseball League will have its annual parade to the fabulous baseball complex.  The Crystal Springs Water Park will open for another season of fun in the sun.  Or, you can drive 30 minutes to "The Shore".   There are so many things to do around East Brunswick this summer. 

Aside from the funspots, East Brunswick boasts a wide range of homes to accommodate every need.  Everything from one bedroom Condos; to Adult Communities; to Townhomes; to Single Family Colonials, Ranches, Split levels and Cape Cods; to a beautiful English style mansion on Farrington lake.

Close to NY, Philadelphia, Princeton, and other business hubs, East Brunswick offers an easy commute for professionals. 

Come see why East Brunswick remains a very desirable place to raise a family.  Visit EastBrunswick.Org for more town information.

We will hear from the Federal Reserve at 2:15pm today regarding interest rates.  I think the Fed will leave things alone at this point.  Inflation is still a slight concern, but they are also looking at the economy for signs of recession.  I think the potential impact of the sub-prime issues on housing and the economy have been overblown, and the net effect will be minimal.  The bottom line is that the Fed will most likely leave its comments, bias, and rates unchanged.  Stay tuned...  

Ok, let me make this as simple as possible...

1. If your credit stinks and you can't document your income, you won't get a mortgage.  It's that simple!!!  Lenders have significantly tightened their underwriting guidelines since this issue hit.

2. If you get a mortgage now, rates are still at the lowest point this year.

3. Rates should continue to improve as the sub-prime issues unfold further. 

4. Our local East Brunswick and Central NJ Real Estate market is doing fine.  Prices have stabilized, and we have a great selection of homes on the market.

5. Those people that are waiting for the tidalwave of cheap foreclosure homes will be disappointed to find that this will not happen, and will end up paying more for a home than if they act now.

End of lesson...

We had a fantastic turnout at our Homeownership Now - first time homebuyer seminar in Cranford, NJ, this past Saturday.  The event was SOLD OUT, with over 70 people who are ready to take advantage of the best buying opportunities in several years.  The Home Ownership Now seminar celebrates 10 years of serving homebuyers, and has now helped more than 12,000 individuals down the path to their first home.  Our next seminar is tentatively scheduled for April 21, 2007.

A word about the NJ Real Estate market:

Has anyone noticed that mortgage rates are at their low for the year? 

That the Central New Jersey (including Middlesex, Monmouth, Somerset, Mercer Counties)  housing markets have stabilized?

That there are plenty of nice homes on the market at reasonable prices? 

That there is not much competition for those homes right now? 

This is the best buying opportunity I've seen in several years!

Unfortunately, most uninformed first time homebuyers buyers think they should wait until the "Spring Market", because common wisdom says it's the best time of the year for housing.  But Why wait?  Sure, more homes will be put on the market for sale, but it will also bring more buyer competition.

Take advantage of these current market conditions.  Establish your trusted team of professionals, including your Realtor, Mortgage Banker, and Lawyer, and start the process now!   

Stop listening to all of the "experts" in your circle of friends and family, and call an expert who can advise you properly.

Contact me for your free consultation today. 

HELLO!!!

Has anyone noticed that mortgage rates are at their low for the year? 

That the East Brunswick and central NJ housing markets have stabilized?

That there are plenty of nice homes on the market at reasonable prices? 

That there is not much competition for those homes right now? 

This is the best buying opportunity I've seen in several years!

Unfortunately, most uninformed buyers think they should wait until the "Spring Market", because common wisdom says it's the best time of the year for housing.  DON'T BE STUPID!  Sure, more homes will be put on the market for sale, but it will also bring more buyer competition.  If you've already found a home you like, don't wait!  Take advantage of these current market conditions.   

Sure, if your sole objective is to fix and flip a home, forget it... it ain't happening! 

But if you are buying a home to live for several years, then do it now.  The people who are still waiting for the "perfect storm scenario" are the same ones who sat on the sidelines on Monday when there was a tremendous buying opportunity in the stock market.  Smart people, like me, used it as an opportunity to add specific positions to my long term portfolio at reasonable prices.  

Stop listening to all of the "experts" in your circle of friends and family, and call an expert who can advise you properly.

Excuse me, if I'm blunt.

Hey, here's an excellent article about the current state of the housing market.  Check it out...

Mr. Real Estate: 'All systems go, pockets of pain'

Remember, all housing markets are local!  Whether you're in East Brunswick, Monroe, Westfield, Nutley, Ridgewood, Ramsey, Mahwah, Saddle River, or even Brooklyn.  There are plenty of homes that are currently priced right and ready for buyers.

Someone just asked me about my perspective on the housing market and the economy. How does China impact our local housing market? What about the sub-prime lender issues? Will the stock market downturn hurt housing? Will the slowdown in housing hurt the economy and cause it to get worse?

Here is my perspective:

Maybe I'm an eternal optimist, but I think everything is looking great for housing. You may agree or disagree, but here it is...

1. The slowdown in home sales may also lead to a slowdown in purchases of home furnishings and other items, potentially influencing a slowdown in the economy, thereby contributing to a Recession. The good news is that it may lead the Fed to ease interest rates to stimulate the slowing economy. The bond market should follow suit, potentially leading to lower bond yields.

Net Effect: Lower Mortgage Rates

2. The recent pullback in the global stock markets starting with China, has increased recession fears and eased inflation fears causing many to believe the Fed will not raise interest rates any further, and may even push them to reduce rates sooner than previously thought.

Net Effect: Lower Mortgage Rates

3. The pullback in the global stock markets may cause consumer confidence to fall... or it may offer a correction, which many will use as an opportunity to add to their investment positions, which they will use as a down payment when they start looking for a new home in the Spring. And... if the stock market continues to slide, it may result in some investors looking to purchase housing as an alternative investment vehicle.

Net Effect: Stimulate home sales

4. As for the sub-prime loan situation, some economists say that reducing availability of sub-prime loans will cause problems for real estate and home prices by keeping some buyers out of the market and forcing some current homeowners to sell or face foreclosure. I say that many qualified buyers are still out there, and the addition of any foreclosure inventory will get scooped up quickly. These lower cost sales may cause a reduction in standing inventory prices, making more houses affordable, and reducing standing inventory.

Net Effect: Stimulate home sales

Bottom Line: Remember that all housing markets are local! While these macroeconomic factors will certainly influence the local markets, the basic principle of supply and demand will still have the greatest impact in each specific market area. I say that the New Jersey Real Estate Market (East Brunswick, Monroe, Mahwah, Ridgewood, Ramsey, Central NJ or Bergen County) is strong as we move into the Spring, and will grow moderately as we end 2007.

If you disagree, let me know.

BTW... has anyone seen my rose colored glasses?

As spring approaches, I'm reminded why East Brunswick, NJ is such a great place to live.  Pretty soon, the top rated East Brunswick School System will be shutting its doors for the year, and the East Brunswick Soccer League will be back in action for another season on the beautiful, new turf fields of Heavenly Farms.  The East Brunswick Baseball League will have its annual parade to the fabulous Managers Fields Baseball complex.  The Crystal Springs Water Park will open for another season of fun in the sun.  Or, you can drive 30 minutes to "The Shore".   There are so many things to do around East Brunswick this summer. 

Aside from the funspots, East Brunswick boasts a wide range of homes to accommodate every need.  Everything from one bedroom Condos; to Adult Communities; to Townhomes; to Single Family Colonials, Ranches, Split levels and Cape Cods; to a beautiful English style mansion on Farrington lake.

Close to NY, Philadelphia, Princeton, and other business hubs, East Brunswick offers an easy commute for professionals. 

Come see why East Brunswick remains a very desirable place to raise a family.  Visit EastBrunswick.Org for more town information.

Today, I'm taking a page from Warren Buffett... 

For anyone who's ever tried to read and make sense of a public company's annual report, you know it's mostly indecipherable by the general public.  Berkshire Hathaway (Warren Buffett's company), published its annual report yesterday.  This is always a huge annual event for people who want to gain insight into Buffett's thinking and perspective.  But, the best thing about this report is that Buffett says it all in plain english.  I always find it interesting and amusing at the same time.  Take a look for yourself... Berkshire Hathaway's 2006 Annual Report.

If you're wondering why I'm discussing this topic today, its because I like his style.  Aside from his brilliance as an investor, he has an amazing ability to take something very complex, and make it sound simple.  I'm not saying his business is simple, but the way he explains it can be understood by almost anyone. 

This is my same objective for the real estate business, and that's why I've called my blog "Simply Stated"...

Markets go up, and markets go down... but, then they go back up again!

The US stock markets had a very good run over the past few years.  Many analysts would say that it got ahead of itself.  Sound familiar?  That's exactly what happened in the housing markets from 1995-2004.  We had a great bull market in housing, with avg. annual returns of 19% in the central NJ markets (parts of Fl and AZ saw 49% annual returns).  Now the stock markets are going through a correction, with Asia tumbling and the European and US markets following.  This is very healthy!!! 

As I've said before, all markets correct!  Start looking for reasonable values in housing, just like you would in the stock market.  Never try to catch the true bottom... it's impossible, unless you get lucky. 

Find an expert to guide you in these volatile times and you will win in the long run.